The state has inked two large investment agreements with MinebeaMitsumi, a Japanese company, and Aequs Group, a Bengaluru-based company, unlocking a total of Rs 5,980 crore investment in the semiconductor and aerospace sectors. The MoUs were signed in the presence of Chief Minister M K Stalin at the Secretariat in Chennai.
The two projects are expected to create employment opportunities for around 8,400 people, with a large number of them being highly skilled technical staff. The two projects will further cement Tamil Nadu’s position as a leader in advanced manufacturing.
Semiconductor and electronics manufacturing gets strengthened:
MinebeaMitsumi will invest Rs 1,980 crore through its subsidiary in setting up a manufacturing and R&D facility in the Tiruvallur district. The proposed facility will concentrate on high-value semiconductor products such as Insulated-Gate Bipolar Transistors and Integrated Circuits, besides motors and sensors.
The facility will be set up at Mahindra Origins Industrial Park and is expected to provide employment opportunities for about 1,400 people, of which over 40 percent will be technical professionals. This investment will further strengthen the semiconductor industry in Tamil Nadu and its position in precision engineering, automotive electronics, and power semiconductors.
MinebeaMitsumi, operating in 28 countries, produces precision mechanical and electronic parts for the automotive, industrial, and electronics industries. The new facility is also expected to bring local suppliers into the global electronics supply chain.
Aerospace and Defence Cluster emerges in Krishnagiri:
Aequs Group has announced an investment of Rs 4,000 crore to establish a dedicated aerospace and defence manufacturing cluster at the SIPCOT-Shoolagiri Industrial Park in Krishnagiri district. The project, spread over 250 acres, is likely to provide employment opportunities for 7,000 people.
The proposed Aerospace and Defence Park will comprise integrated facilities for the manufacture of aircraft engine and gearbox components, along with shared infrastructure to facilitate exports. The company aims to create a vertically integrated aircraft engine manufacturing ecosystem, which will position Tamil Nadu as an important destination in the global aerospace value chain.
Both investments are part of the state’s plan to attract high-value investments in semiconductors, aerospace manufacturing, and precision engineering.
